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4/16/2012 9:28PM

Fears Over Spain's Austerity Measures

As the Spanish economy dips back into its second recession in two years, concerns are mounting that austerity measures could send the local economy into a downward spiral. Video and reporting by WSJ's Jonathan House. Photo: Associated Press.

This transcript has been automatically generated and may not be 100% accurate.

... I ... sch ... as the Spanish economy dips back into its second recession in two years and unemployment surges past twenty three percent ... concerns are mounting about the impact of its austerity measures ... some fear they could send the local economy into a downward spiral ... bill makes the country's debts ever more difficult to pay off ... or provoke a social backlash that could derail government policy ... screen situations the high risk test case ... for European Union austerity policy ... as I know ... this extended and whistles through sites inside the skull older European countries cutting deficits same time ... ignoring the snag is that each country the studio that ... Spain is suffering from the collapse of a decadelong housing ... the push the economy into a prolonged slump ... cent unemployment soaring ... and punched a large hole in its public sector accounts ... social unrest is on the rise as all levels of government cut spending ... some workers haven't been paid the money there ... they listen January paycheck wages for the last year that they were suppose to pass January thirty first ... the name of this ... conflict is that the company wants to cut staff ... and were against that because there won't be enough people to provide an adequate level of service for the ... the situation is difficult even for many of those who have retained their jobs ... especially public sector workers ... and the two reactors ... were privatized article basically for my family ... does my wife and I and two children who no longer live with us ... for cutting back fundamentally on going out ... we are in the habit of going out to eat on Friday evenings ... and or cable TV ... was canceled the subscription ... Spanish unions held their first strike in March to protest the government's austerity measures and economic reforms ... which included an ambitious overhaul screens liberal I ... know I love my job I thought ... about it though the government's policies are going for one more unemployment ... and worse choices are way ... more strikes ... local will soon be it the culmination of an economic recession in the labor reforms designed to encourage hiring ... not hiring ... utility to crosses job destruction ... and could convert the nightmare prospect of six million people without work into reality ... I ... the the the ... as reported by Jonathan House in Madrid Spain ... they're doing school teacher ...